Question

Briefly explain the effects that a change in the consumers’ taste and preferences
will have on demand and the demand curve.

Answer 1

Heya....

If consumer's taste is favourable for a good means he or she wants to purchase it at any price then it creates the rightwards shift in demand curve...

If consumer's taste is unfavorable then he or she will not purchase it at low price also....It creates backward shift in demand curve at existing prices...

Answer 2

If consumer's taste is favourable for a good means he or she wants to purchase it at any price then it creates the rightwards shift in demand curve

If consumer's taste is unfavorable then he or she will not purchase it at low price also....It creates backward shift in demand curve at existing prices

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